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EQT, Biontech investor family consider Sandoz bid

by Mike Robinson

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© Reuters. FILEPHOTO: This is a general view of BioNTech’s building, from which the production of COVID-19 vaccine (coronavirus disease) has been started in Marburg Germany. It was taken November 18, 2021. REUTERS/Fabian Bimmer

ZURICH, Reuters – Investors in Biontech, EQT (NYSE :), and the Struengmanns are considering a joint bid by Novartis for Sandoz’s generics unit. This was reported Friday by Handelsblatt, citing unnamed sources.

The newspaper said that Sandoz could be offered for more than 20 billion Swiss Francs, or 21.58 billion dollars.

Novartis raised the possibility of Sandoz being sold in October after years of reorganizing the company. This is in response to rising prices in the off-patent drug industry.

The company stated that it was conducting a strategic review to “examine all options” and would consider whether to retain the business or to separate the business in order to maximize shareholder value.

Handelsblatt reported that the Struengmann family was looking for additional investors to join a possible consortia.

EQT declined to comment. Novartis declined to comment on requests via email or phone.

In 2019, the Swiss drugmaker Alcon (NYSE) spun off its eyecare unit. This was the biggest Swiss stock transaction in 10 years. Its debut in 2009 with more than $25 Billion in market capitalisation marked its first public appearance.

($1 = 0.9268 Swiss francs)

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